Web3 game publisher Fenix Games has raised $150 million to acquire, invest and distribute blockchain games. The money will be used to set up a game publishing company specifically geared towards mass distribution of blockchain games.
The Phoenix Group and the venture capital company Cypher Capital from Dubai participated in the financing round of Fenix Games, as reported by the local news platform Jinse . Chris Ko, CEO and co-founder of Fenix Games, who also previously ran Mythical Games, views Fenix Games "like a VC fund" to foster the next generation of blockchain games.
Ko has explained what should happen after funding:
"We will start with a huge capital base to invest in these next generation (game) studios. We also want to use our balance sheet to acquire several current games in the web2 space and build a portfolio."
Ko further said that the market for blockchain gaming is not yet as big as that for traditional video games. Fenix Games' strategy is to keep evolving the gaming ecosystem with many releases.
The ever-evolving GameFi model could "make today's AAA game companies look like peanuts," according to Jack O'Holleran, CEO of multichain network Skale.
However, finding a sustainable GameFi model is still a challenge. User experience is one of the biggest issues in the industry. This is due to the high gas fees and technical complexities involved in buying, owning and trading NFTs .
My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange!
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning SiteLiteCoinPay -
The #1 FaucetPay earner for LitecoinLBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!FaucetPay - The #1 Microwallet PlatformFREEBTC - The #1 FaucetPay earner for Satoshi'sFireFaucet - An earning site that pays better for some than Cointiply
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BNB, ZEC, USDT, FEY, 25 Claims Daily
Comments
Post a Comment